Is Momentum Changing for Copper? Price Just Crossed Below Its 100 Day Moving Average

The Hourly View for Copper

  • At the time of this writing, HG1’s price is up $0 (0.09%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Copper has now gone up 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Of note is that the 50 hour changed directions on HG1; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Copper’s hourly price chart is shown below.

HG1

The Daily View for Copper

  • At the time of this writing, HG1’s price is up $0.02 (0.47%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Copper has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Copper.

HG1

Featured Copper Idea From TradingView

Below is a trading comment entitled XAUUSD and Overview to Markets you may find interesting:

XAUTRYG Silver troy ounce (31.10 gram) 26.175 USD (percentage of 1.06, Buy signaling) and Platinum , 1059.2 USD (-0.78 of pct, Strong Sell). Ounce palladium 2787 USD (%3.95) costs for traders.Copper 1 pound (0.4535 kg), 4.2805 USD (with the percentage of 0.38, Buy) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1770.1 USD (%0.37, Buy) is going along its trendline.American Dollar index (DXY) 92.44 is pushing itself (%0.4 Strong Buy) on the lin…

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